Drilling advances ///
As many of you are doubtlessly aware, we have a serious bean problem. More specifically, the astronomical price of Cyamopsis tetragonoloba, commonly known as guar bean, is threatening to change the face of fracs, as we know them today.
Owing to the historic run-up in hydraulic fracing, farmers find themselves unable to churn out enough feedstock for guar gum, the key gelling agent for the high-viscosity frac fluids that make sure proppants are put in their proper place. While most folks expect the supply to rebound next year, Bloomberg in the meantime says costs have jumped more than 500% in a little more than a year. Halliburton even cited the exponential increase in guar gum for lower-than-expected second quarter earnings, telling Reuters it now accounts for as much as 30% of the cost of some frac jobs.
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